Toshiba Corp. Guide resigns: for several years, the profits in the reports overestimated by $ 1.2 billion
CEO and President of Toshiba Corp. Hisao Tanaka, Vice Chairman of the Board of Directors Norio Sasaki, former President of the Corporation Atsutoshi Nishida and several members of the Board of Directors will retire in September 2015. The company for six years published unreliable financial reports , artificially inflating profits of a total of 1.2 billion dollars.
Inadequate reporting was identified as part of the campaign by the Prime Minister of Japan to improve corporate governance. Regulators have asked the corporation for accounting data for past years and found cases of reduction of data on unit costs. Toshiba shares fell 29% since April, errors were reported in the code.
An independent commission, invited by the corporation, will find out the involvement of the management in the distortion of statements. Next week, the commission will publish the results of the audit.
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Hisao Tanaka, President of Toshiba Corp.
Inadequate reporting was identified as part of the campaign by the Prime Minister of Japan to improve corporate governance. Regulators have asked the corporation for accounting data for past years and found cases of reduction of data on unit costs. Toshiba shares fell 29% since April, errors were reported in the code.
An independent commission, invited by the corporation, will find out the involvement of the management in the distortion of statements. Next week, the commission will publish the results of the audit.
')
Hisao Tanaka, President of Toshiba Corp.
Source: https://habr.com/ru/post/292692/
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